Comments on: The Coming Crash of the Government Debt Bubblehttp://patterico.com/2012/11/08/the-coming-crash-of-the-government-debt-bubble/
Harangues that just make senseTue, 31 Mar 2015 21:54:54 +0000hourly1http://wordpress.org/?v=3.9.3By: SPQR (768505)http://patterico.com/2012/11/08/the-coming-crash-of-the-government-debt-bubble/#comment-1107909
Sat, 10 Nov 2012 16:42:55 +0000http://patterico.com/?p=71112#comment-1107909MD in Philly, its turtles all the way down.
]]>By: MD in Philly (3d3f72)http://patterico.com/2012/11/08/the-coming-crash-of-the-government-debt-bubble/#comment-1107805
Sat, 10 Nov 2012 13:32:47 +0000http://patterico.com/?p=71112#comment-1107805From Mark Steyn:The good news is that reality … doesn’t need to crack 270 in the Electoral College. Reality can get 1.3 percent of the popular vote and still trump everything else. … Obama increased the federal debt by just shy of $6 trillion and… grew the economy by $905 billion. … in order to generate every $1 of economic growth the United States had to borrow about $5.60. There’s no one out there on the planet … who can afford to carry on bankrolling that rate of return. … In order to avoid the public humiliation of a failed bond auction, the U.S. Treasury sells 70 percent of the debt it issues to the Federal Reserve – which is to say the left hand of the U.S. government is borrowing money from the right hand of the U.S. government. It’s government as a Nigerian email scam, with Ben Bernanke playing the role of the dictator’s widow with $4 trillion under her bed that she’s willing to wire to Timmy Geithner as soon as he sends her his bank account details.

If that’s all a bit too technical, here’s the gist: There’s nothing holding the joint up.

left hand of the U.S. government is borrowing money from the right hand of the U.S. government.- Except there is no money in the “right hand”, correct?

We have to make people try to understand the problem. We have to make this a priority. Because a crash is going to be very, very hard on our children.

The first thing we need to do is CLAIM it. CLAIM IT NOW.

Not later. NOW.

We need to make it VERY LOUD and very CLEAR, not let the media stifle us, so they can claim ignorance and so forth later on the part of the Dems. We allowed the $@^%$@%&$@&@& bastards to do this on the RE bubble, and what happened? The media happily blamed it on the GOP, when anyone paying attention knows the %$@^%$#& Dem committee members stonewalled any and all action (“I want to roll the dice some more” — Barney Frank ON VIDEO) on it (I DO still blame the GOP because they had the power to override that, but that’s a sit of omission, not a sin of commission).

We need to LAY IT OUT ahead of time. I can say, FLAT OUT, that the media will then paint THAT as the cause of it, but that’s not something we can do.

Whatever happens, the media will paint it as the GOP’s fault — “they were obstructing the perfect wonderful Dems from dealing with the problem” — as usual. But if there is any hope of saving this nation, it happens after the ^%#&%$@@&% boomers start to THANK GOD FUCKING FINALLY die off.

The gains in the stock market, too, are really just pricing in the increased money supply. The stock market hasn’t done much of anything, just the numbers have gotten bigger with each ‘quantitative easing’.

Of course, now they are going down to price in the effects of Obamacare taking place.

There are far too many in the country who have no concept what numbers actually signify. To them a million, is a billion, is a trillion. There is no actually understanding of the issue until the crash happens. I wish this was only among the uneducated. But many supposedly “educated” people lack this understanding also. Add in those receiving their free stuff and the issue only compounds.

This election was the last chance to deal with the situation. And the country blew it. I hate to say this but its over. I am in the process of cleaning out my bank and brokerage accounts and liquidating into cash. The safety deposit box will make me look impoverished so I will not be a target for the government. Beside what can you really invest in anyway? Nothing interest bearing because the rates are so low. The market was counting on a Romney victory and we can already see reality setting in. And the Government seems unable to stabilize anything because stability requires competence and negates graft.

I have never given up before. I have alway held out hope. But this was it. Obama couldnt stop the literal rise of the water as he promised, and he wont be able to stop the figurative ones either.

]]>By: Icy (d0fdc3)http://patterico.com/2012/11/08/the-coming-crash-of-the-government-debt-bubble/#comment-1107356
Fri, 09 Nov 2012 21:22:24 +0000http://patterico.com/?p=71112#comment-1107356Petraeus resigns!
]]>By: Sammy Finkelman (da29ec)http://patterico.com/2012/11/08/the-coming-crash-of-the-government-debt-bubble/#comment-1107354
Fri, 09 Nov 2012 21:18:22 +0000http://patterico.com/?p=71112#comment-1107354I think Boehner expected the election to settle something. The whole cast of characters is back, except for a changes in a few people, with the Democrats having two more sets in the Senate.

The Republicans can still filibuster and Harry Reid probably still cannot pass a budget resolution without amendments he wants to avoid.

When a change is impending the lame duck Congress can do something, but nobody’s bargaining position is going to be worse by much, like it was in 2010.